1 bedroom terraced house for saleHighgate & Garnett Croft, Kendal, Cumbria
Sold STC £320,000
*BEST AND FINAL OFFERS INVITED by 12 Noon 12/09/2016*
MIXED USAGE INVESTMENT OPPORTUNITY comprising of GRADE II LISTED COMMERCIAL SHOP with high street frontage, with TWO x ONE BEDROOM FLATS above and TWO FURTHER PROPERTIES to the rear. Currently producing an income of £29,080 per annum.The placing of 138 Highgate and the properties to the rear at Garnett Croft offer an excellent investment opportunity to acquire a mixed use property set in a prominent town centre position.
The property 138 Highgate comprises a ground floor retail premises which is currently occupied by Woodbridge & Mounsey, being a well-established long standing local business. Above the commercial element there are two, one bedroom residential flats located on the first and second floors respectively. These properties are currently occupied as detailed further.
The commercial showroom and shop extends to:
Front showroom - '4.96' x '5.54' (max)
Middle showroom - '4.58' x '4.12'
Rear showroom - 4.16 x 5.71 (max)
Also offered for sale are two further residential properties, being No. 4 and No. 5 Garnet Croft, which are located to the rear of 138 Highgate. Access is via the side door into a shared courtyard area. The properties are occupied as detailed further.
The properties currently yield an annual income of £29,080 collectively and offer an exciting investment opportunity.
138 Highgate - the commercial element at this property is currently occupied on a five year lease under the Landlord and Tenant Act 1954, commencing on 18th July 2016 with a rent passing at £10,000 p.a.
Flat 1, 138 Highgate - currently occupied on an Assured Shorthold Tenancy. The tenancy has been renewed as at 3rd February 2016 for a further six month period with a rent passing of £420 per calendar month.
Flat 2, 138 Highgate - currently occupied on an Assured Shorthold Tenancy as of 2nd January 2016 with a rent passing of £365 per calendar month.
No. 4 Garnett Croft - currently occupied on an Assured Shorthold Tenancy as of 29th January 2016 with a rent passing of £420 per calendar month.
No. 5 Garnett Croft - currently occupied on an Assured Shorthold Tenancy as of 18th February 1995 with a current rent passing of £385 per calendar month.
A copy of the Tenancy Agreements can be viewed at the agent's office.
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